Debt

The electronic platform of the Independent Authority for Public Revenue (AADE) opened on Friday for the new extraordinary arrangement with 36 to 72 tranches for tax debts that arose after November 1, 2021, but also for the revival of the old 36-, 72- or 120-installment arrangements.

There are so many absurdities in Greece, and we have put up with them for so long that we think they are normal. When we see the world through a distorting lens, it is natural that we cannot identify the problem, nor solve it. On the contrary, we use our delusions to judge each other. Every election campaign highlights this weakness in all its miserable glory.

Small tax debtors are making use of the favorable provisions offered by the Finance Ministry, entering the 72- or 120-installment arrangements that have been instituted, or even the fixed arrangement.

Τhe platform for the repayment of outstanding debts to the state, the national social insurance agency (EFKA) and tax authorities in 72-120 installments will open by Friday, Finance Minister Christos Staikouras told Skai TV on Saturday. 

The use of electronic transactions, the reduction of taxes as well as the favorable repayment arrangements (72 and 120 installments) have led to the reduction of state debtors by some 400,000 compared to 2018, according to the data of the Independent Authority for Public Revenue (AADE).

Maybe it was not necessary for the Silicon Valley Bank and Credit Suisse debacles to come along for the winds of uncertainty to blow in the global economy.

They had already been stirred by the war in Ukraine, the energy crisis, and a rise in inflation in the eurozone.

"There is no risk of bankruptcy of the state, nor of the intervention of the International Monetary Fund and the need to take out new debt." This was stated on the National Television by the Acting Minister of Finance Rositsa Velkova. Her comment was on the occasion of the two scenarios of the long-term budget forecast leaked to the media yesterday.

The online platform for the new regulation for repaying debts in 36-72 installments is expected to open immediately after Easter, for thousands to be able to rearrange the debts they incurred between November 2021 and February 1, 2023.

In a landmark ruling Slovenia's top court has abrogated a law that required the Slovenian central bank to compensate those who lost their investments during the banking sector bailout of 2013, when roughly tens of thousands of holders of shares and junior bonds were completely wiped out.

"The latest data on the course of the Extrajudicial Debt Settlement Mechanism prove that it is now functioning satisfactorily," Finance Μinister Christos Staikouras said on the occasion of the publication of the progress report of the out-of-court settlement mechanism.